Cash Loans

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Cash Loans

Spot Loans

Spot loans are loans whereby the interest rate is determined on the date the loan is used and its principal and interest repayments are collected at the end of maturity. One of the most important features of spot loan is that its period can be set on a weekly, monthly and even on a daily basis; and another one is that the determined interest rate is locked until the maturity date.

Revolving TLLoans

Revolving Turkish Lira Loans are loans extended for the purpose of providing short-term financing that companies may need due to various reasons (raw material purchases, production costs, etc.) during their commercial activities. The term of the loan, its pricing and collaterals are determined according to the market conditions. The interest rate changing acording to market conditions are collected quarterly. These loans can be repaid before their maturities and provide cash availability.

Export Credits

Export Credit is a type of loan granted in TL terms for financing exports, sales and deliveries that are considered export and foreign currency generating activities. This credit facility is extended for the purpose of providing financing to the companies engaging in export activities either before the goods subject to an export contract are shipped to get transferred abroad (pre-export financing) or after their shipment. The loans extended for export purposes are exempt from all taxes, duties, and charges. Except special circumstances; interest accruals for the export credits are made at the end of quarter periods (March, June, September and December) and they can also benefit from the subsidies provided that the required conditions are fulfilled.

Foreign Currency Loans

Foreign Currency Loan is the most common credit type among the export credits and is generally granted for pre-export financing with tenor up to 18 months excluding some exceptional circumstances on the basis of product and source. The loan can be repaid in Turkish Lira during this period; and when it is closed with the export proceeds, with the foreign currency generated by export and sales and deliveries that are considered export and with other required documents (inward processing authorization certificate and foreign currency buying receipt), then they are exempt from all taxes, duties, and charges.

I- Pre-Shipment Turkish Lira Export Credit

Pre-Shipment Export Credit has 3 different types depending on the characteristic of the company utilising the credit:

Pre-Shipment Turkish Lira Export Credit for the SMEs is allocated to manufacturer and manufacturer-exporter companies engaging in activities within the scope of SME (companies operating in the manufacturing industry sector and has number of employees between 1 and 200 in total)

Pre-Shipment Turkish Lira Export Credit for Villages is allocated to the manufacturer, exporter and manufacturer-exporter companies operating in priority development areas (provided that the product subject of exportation is manufactured in the village).

Pre-Shipment Turkish Lira Export Credit can be extended for a period of 180 days at most and 100% of FOB export commitment can be disbursed. The interest rate to be applied to the loan is determined by Turkish Exim Bank. The intermediary banks are allowed to add 2% points on this interest rate and reflect to their customers accordingly. The highest limit that can be allocated to a single company is 1.500.000.000.000 TL.

II- Pre-Shipment Foreign Currency Export Credit

Pre-Shipment Foreign Currency Export Credit is allocated to the manufacturer, exporter and manufacturer-exporter companies. The principal amount of a Pre-Shipment Foreign Currency Export Credit to be utilised by a company cannot exceed USD 100.000 in total. 100% of FOB export commitment can be disbursed. Pre-Shipment Foreign Currency Export Credit can be extended for a period of either 90 or 180 days at most and the interest rate to be applied to the loan is determined by Turkish Exim Bank. The intermediary banks are allowed to add only 0.75% points on this interest rate.

During the initial stage of the Pre-Shipment Foreign Currency Export Credit application that are extended through the intermediary banks;

Credit Request Fom,

Company Information Form,

Company Commitment Letter and

Letter of Consent (in case the borrower is a manufacturer company, it is taken from the exporter company) are obtained and sent to Turkish Exim Bank.

III- Performance Related Export Credits

Performance is the amount of export made on Foreign Currency Buy Receipt/FOB basis as of 12 months time period from the application date or the previous calendar year retrospectively. The precondition to benefit from the performance-related credit is that export being at least at the amount of the past performance of the company should have been certified by Turkish Eximbank. Except Foreign Trade Capital Companies and Industrial Foreign Trade Companies; manufacturer, exporter and manufacturer-exporter companies manufacturing export-related goods can benefit from this credit.

Performance-related credits can be disbursed either in Turkish Lira or in Foreign Currency. The minimum and maximum credit limits are USD 500.000 and USD 10.000.000 respectively. The performance-related foreign currency credit request can be at the amount of USD 5.000.000 at once; and performance-related Turkish Lira credit can be maximum at the amount of TL 1.500.000.000.000. For performance-related foreign currency and Turkish Lira credits, 100% of FOB export commitment can be disbursed.

The maturity of performance-related foreign currency credit is maximum 180 days. This credit is direcly disbursed by Turkish Exim Bank and upon the approval of the application, a principal colletaral at the amount of 20% of the credit principal and interest is allocated. In addition, the intermediary banks are required to issue a performance bond in relation to this credit on behalf of Turkish Eximbank with an indefinite period or at least with 1-year maturity.

Discount Loans

Discount Loans are a type of loan which enables to convert the commercial notes arising from a commercial activity and has not yet due into cash. The credit is provided at the amount remained after the interest, commission, RUSF and BITT calculated over the note amount are deducted and for the period elapsed from the presentation date of the note to the bank till the maturity date. This credit facility provides cash by discounting the notes to meet the short-term financing needs of the companies who have a wide undue notes portfolio. Whether the payment is to be made within the boundaries of the municipality or not determines the discounting method of the notes.